The EDGE Group, one of the world’s leading groups in the field of advanced technology and defense, announced its acquisition of a 50% stake in Seaeat, the Brazilian company specialized in smart weapons and advanced technological systems.
A statement issued yesterday stated that the acquisition deal was officially signed at the headquarters of Seaat in the city of Sao Jose dos Campos, in the presence of the Chairman of the Board of Directors of the EDGE Group, Faisal Al-Bannai, and a number of senior management officials in the two companies.
The acquisition comes in the wake of a cooperation agreement signed by the two companies in Rio de Janeiro last April, and is part of a subsequent joint development agreement signed between EDGE and the Brazilian Navy for advanced long-range anti-ship missile technology, within the framework of the National Anti-Ship Missile Project (MANSUP). Which is supplied by Seaeat with guidance, navigation, control and telemetry systems.
Managing Director and CEO of EDGE Group, Mansour Al-Mulla, said, “EDGE is committed to cooperating with strategically important players in Brazil, through investments or partnerships, with the aim of developing advanced defense capabilities and other related technologies.”
2023-09-29 22:05:59
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